Smokers pay €12,000 less in life assurance cover than in 2000

SMOKERS can now pay up to €12,000 less over the course of their life assurance cover than they could have done 10 years ago.

Caledonian Life said that over the last decade, life assurance premiums have dropped significantly due to medical advances and lifestyle improvements which lead to an increased life expectancy.

Women have fared well in terms of pricing over the years due to their increased life expectancy, with figures showing a female’s life assurance premium can be around 25% less than their male counterpart.